Forest Laboratories

Forest Laboratories was a prominent pharmaceutical company based in New York City, United States. It was known for developing, manufacturing, and selling a wide range of prescription drugs in various therapeutic areas, including central nervous system disorders, cardiovascular disease, and gastrointestinal conditions. Forest Laboratories played a significant role in the pharmaceutical industry before it was acquired by Actavis (now known as Allergan) in 2014.

History

Forest Laboratories was founded in 1956 by Howard Solomon, who later became its CEO. The company initially started as a small laboratory but grew over the decades into a significant player in the pharmaceutical industry. One of the key strategies for its growth was the licensing of drugs from smaller companies and overseas manufacturers, which allowed Forest to bring a diverse portfolio of medications to the U.S. market.

In the 1990s and early 2000s, Forest Laboratories experienced significant growth, partly due to the success of its antidepressant drugs, Celexa (citalopram) and Lexapro (escitalopram), which became widely prescribed in the United States. These drugs were instrumental in establishing Forest Laboratories as a leading company in the field of psychiatric medication.

Acquisition by Actavis

In July 2014, Forest Laboratories was acquired by Actavis for about $25 billion. The acquisition was part of a series of mergers and acquisitions in the pharmaceutical industry, aimed at expanding product portfolios and creating more globally competitive companies. Following the acquisition, Forest Laboratories' operations were integrated into Actavis, significantly expanding Actavis' presence in the branded pharmaceutical market. Actavis later changed its name to Allergan, further solidifying its position as a global pharmaceutical giant.

Products

Forest Laboratories developed and marketed a wide range of pharmaceutical products, including:

• Celexa (citalopram) – An antidepressant medication used to treat major depressive disorder.
• Lexapro (escitalopram) – Another antidepressant, closely related to Celexa, used for the treatment of major depressive disorder and generalized anxiety disorder.
• Namenda (memantine) – A medication used in the treatment of moderate to severe Alzheimer's disease.
• Bystolic (nebivolol) – A beta blocker used in the treatment of hypertension (high blood pressure).
• Linzess (linaclotide) – A drug used to treat irritable bowel syndrome with constipation and chronic idiopathic constipation.

Controversies

Like many pharmaceutical companies, Forest Laboratories faced its share of controversies, particularly related to its marketing practices. The company was criticized and faced legal challenges for off-label promotion of its drugs, as well as its handling of clinical trial data. Despite these challenges, Forest Laboratories maintained a strong presence in the pharmaceutical market until its acquisition by Actavis.

Legacy

The acquisition of Forest Laboratories by Actavis marked the end of an era for one of the pharmaceutical industry's well-known companies. However, the legacy of Forest Laboratories lives on through its products, which continue to benefit patients around the world. The merger also reflects the dynamic nature of the pharmaceutical industry, where consolidation can lead to greater innovation and access to medications for patients globally.